Categories AlphaGraphs, Consumer, Earnings
A visual representation of Philip Morris International (PM) Q1 2020 earnings results
Philip Morris International Inc. (NYSE: PM) reported its financial results for the quarter ended March 31, 2020 today.
Philip Morris reported a 35% jump in earnings for the first quarter of 2020 due to higher revenue. Total IQOS users at quarter-end estimated at about 14.6 million, of which about 10.6 million have stopped smoking and switched to IQOS. The company expects that the pandemic will have adverse impacts on its full-year 2020 business results.
Given the inherent uncertainty surrounding the COVID-19 pandemic and the related impact on PMI’s business globally, the company is currently unable to forecast its full-year financial results with reasonable accuracy. Therefore, the company is withdrawing its earnings guidance for fiscal 2020. The company sees second-quarter EPS in the range of $1.00-1.10, including the unfavorable currency impact.
Past Performance
Most Popular
360 DigiTech (NASDAQ: QFIN) Q3 2021 Research Summary
The positive effects of widespread digitalization and e-commerce growth on China’s financial services industry became more pronounced during the pandemic as the movement restrictions drove more retail customers to online
Activision Blizzard (ATVI): Three reasons why this stock deserves to be on your radar
Shares of Activision Blizzard Inc. (NASDAQ: ATVI) were up 1.6% on Thursday. The stock has dropped 14% since the start of the year. The company has been in the news
IPO Alert: Here’s all you need to know about Remitly Global’s upcoming market debut
The emergence of technology-driven financial services is making people think beyond conventional banks when it comes to availing loans and transferring funds. In a move aimed at taking its business
